WTI drops below $69.00 amid demand fears and uncertainty over OPEC+ production

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WTI drops below $69.00 amid demand fears and uncertainty over OPEC+ production
CommoditiesWTI
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West Texas Intermediate (WTI), the US crude Oil benchmark, is trading around $68.85 on Thursday.

WTI price falls to fresh YTD lows of $68.85 in Thursday’s early Asian session.

,” said Svetlana Tretyakova, senior analyst at Rystad Energy. The recent weaker Chinese economic data has prompted concerns about the economic outlook of the world's biggest crude importer. Chinese NBS manufacturing activity fell to asix-month low in August, while the Caixin Manufacturing PMI released on Wednesday came in worse than expected. The US crude inventories fell significantly last week.

is a group of 13 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When

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